Is Economy Plunging Into Great Depression 2.0? | George Selgin

George Selgin, Senior Fellow of the Cato Institute, discusses what brought the economy out of the last Great Depression of the 1930s, and whether or not the economy of today shows any parallels and similarities.

*This video was recorded on June 11, 2024

FOLLOW GEORGE SELGIN:

FOLLOW DAVID LIN:

*This video is not financial advice. The channel is not responsible for the performance of sponsors and affiliates.

0:00 - Intro
0:40 - The Great Depression
9:00 - What cured the last Depression
14:35 - Stimulus
17:00 - Protectionism and globalization
21:55 - Unemployment
25:00 - Bitcoin
27:16 - Gold
29:50 - Stock market crash
35:16 - AI and the economy

#investing #economy #bitcoin

[kamakani]

David you are one of the best read and informed interviewers around today. Impressed with the quality of these long form interviews. Thank you.

[alexmarshall]

Bring on the hyper deflation or hyper inflation already. Let’s get this show on the road.

[TheDavidLinReport]

Do you think the economy could see another Depression like in the 1930s? Comment below and don't forget to subscribe!


FOLLOW GEORGE SELGIN:

[BTD]

Most most major economies had been destroyed by the war while the US mainland was never bombed and that’s why we were able to turn our factories to consumer goods from war materials and keep people employed after the war. Our economy grew because we were the only game in town while Europe and Japan were in ruins.

[joshuakelleher-bwdg]

“When all else fails, they take you to War” -Gerald Celente

[waltersheens]

The most reliable indicator for big trouble soon, just appeared this week (FED saying all is ok).

[felipeford]

Mr. Lin please allow an old Grunt to thank-you for your integrity in this and all subjects you address here on your channel. I know I can count on your choice of words to be revealing and enlightening. I’m not an industry professional but it’s a hobby for me because I like feeling the peace of mind from having some actual idea about what happens largely in an opaque fashion in the world of finance. Sincerely and emphatically!

[sangEta]

There will never be peace while money is, "backed by men with guns" - Paul Krugmen.

[erictaylor]

Small business' has been butchered, with many middle to large cap business' have been upset, but we are living in a dual economy, with mega cap businesses holding the economy up, while the balance are in a recession/depression that may bring back stagflation as Dimon suggests; Wallstreet is doing well enough, while Mainstreet suffers.

[PaulbylPaulbyl]

Great interview. I usually find university professors to be uninformed and hopelessly biased politically. This guy and professor Hancke are two exceptions - informed, well grounded, straight shooters. Keep at it David!

[ptahX]

Mr Selgin seems very grounded and is using both facts and data to base his opinions. Very refreshing

[vsFY]

The US got out of the Great Depression because ….. wait for it ….. WW2

[jamespaggioli]

Very thorough and thoughtful guest. Very good. Well reasoned with full analysis of all historic factors at the time. And a good comparison and contrast to current conditions.

[PJ_MIKE]

Thank you for introducing Professor George Selgin. I enjoyed the conversation and his insights.

[cheaplaughkennedy]

Now we have the Feds endless funny money to help support the black hole of the debt markets.

[Numberboyz]

Right but after world war 2 we got the worlds reserve currency, sounds like me it did save us from depression. Without all the debt we have now. Hummm

[hobarttobor]

The Great Depression is the best understood event in human history. Thousands of books...

[phillB]

Let’s not forget that that war took over 400, 000 lives and wounded it an additional almost 700, 000. That’s approximately 1.1 to 1, .2 million of the working age population. That’s when the population isn’t anywhere near what it is today and the working age population is a fraction of that.

[JohnLandau-rggh]

Mr. Selgin doesn't discuss the problem of the collapse in the value of commercial real estate and the threat it poses to banks that have large loan portfolios to commercial real estate owners, Many other economists thinks this overexposure of banks to bankrupcies and/or defaults by commercial real estate owners threatens the stability of the U.S. banking system.

[graceamsterdam]

Excellent interview, thank you gentlemen. Refreshing to listen to ideas based on rationality.